other material
confidence high
sentiment negative
materiality 0.70
Inland REIT sets Dec 31 2023 estimated NAV at $19.17, down from $19.86
Inland Real Estate Income Trust, Inc.
- Estimated NAV per share $19.17, down from $19.86 a year earlier; total NAV ~$693.3M on 36.2M shares.
- Real estate asset values fell 9.8% vs. original cost plus CapEx; higher discount/cap rates cited.
- 31% of annualized base rent from non-grocery big box retailers, a stressed sector per the Board.
- DRP purchase price set at $19.17; SRP repurchase price at $15.34 (80% of NAV).
- CBRE Cap provided valuation range $18.57–$20.95; Board selected below midpoint due to big box concerns.